Avid Technology, Inc. (AVID) Rating Lowered to Hold at BWS Financial

Avid Technology, Inc. (OTCMKTS:AVID) was downgraded by research analysts at BWS Financial from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They presently have a $5.00 price target on the stock. BWS Financial’s target price would suggest a potential upside of 11.86% from the stock’s previous close.

Separately, Zacks Investment Research lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th.

Shares of Avid Technology (OTCMKTS:AVID) opened at 4.47 on Thursday. The stock has a market cap of $181.59 million and a P/E ratio of 4.69. The stock’s 50 day moving average is $6.98 and its 200-day moving average is $6.88. Avid Technology has a one year low of $4.34 and a one year high of $9.78.

In related news, CFO John W. Frederick sold 457,506 shares of Avid Technology stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $9.09, for a total value of $4,158,729.54. Following the completion of the sale, the chief financial officer now directly owns 128,852 shares in the company, valued at $1,171,264.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors have recently made changes to their positions in AVID. Paradigm Capital Management Inc. NY raised its stake in shares of Avid Technology by 0.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,439,800 shares of the company’s stock worth $8,365,000 after buying an additional 10,700 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Avid Technology by 77.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 292,305 shares of the company’s stock worth $1,976,000 after buying an additional 127,900 shares during the last quarter. West Coast Financial LLC raised its stake in shares of Avid Technology by 3.3% in the second quarter. West Coast Financial LLC now owns 425,413 shares of the company’s stock worth $2,472,000 after buying an additional 13,530 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Avid Technology during the second quarter worth $3,887,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Avid Technology during the second quarter worth $169,000.

Avid Technology Company Profile

Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.